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Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
 Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian government attempts to benchmark its coal prices to international indices. The new system has the potential to increase the cost of thermal power generated using imported coal in India.
The new method that will come into effect from September attempts to link the royalties paid to the Indonesian government to an index of coal prices for Australian and South African coal in addition to others. But Indian firms said Indonesian coal is of lower calorific value and, hence, priced cheaper compared with Australian and South African coal.
Deepak Amitabh, director (corporate finance) of PTC, said there are lots of issues, which still need to be sorted before the coal prices are determined. “We are still not clear how the government will work out the price differentials between Indonesian coal and that produced by Australia or South Africa, for example. Also the spot prices are always costly compared with the long-term sales contracts. We need to find out if the long term contracts for Indonesian coal would be at discount to international market prices or not.”
In September 2010 the Indonesian government issued new regulations to determine the benchmark price for the sale of coal and minerals. The regulation proposes to peg the price for both domestic sales and export of coal to a ‘benchmark price’ for all the mining licensees. Dipesh Dipu, director, consulting (mining) at Deloitte in India said the new regulation will force companies to transact at market prices, which may be seen as raising the cost of delivered coal in India.
“When companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipu.
Banmali Agarwala, executive director and head of business development at Tata Power said, “The increased pricing will definitely affect the cost of generation and we are trying to work out a strategy to handle the additional hike.”
Adani group that sources coal from its mines in Indonesia is also expected to be affected by this regulation, as Adani Enterprises has direct stake in Bunyu mines in Indonesia. Adani Power has contracted to procure 4.6 mtpa coal from Adani Enterprises at $36 per tonne. However, the total import requirement for present operational capacities is around 6 mtpa.
Vijaykumar Bupathy, senior analyst with Spark Capital Advisors, said in report that “Assuming a $50 per tonne increase in the free on board (FoB) price of coal, there would be Rs 1,040 crore incremental fuel cost to the group to the extent of the committed 4.6 mtpa of supply alone.” However, when Financial Chronicle contacted Adani Enterprises, the company said there will be no direct impact on the company, since its total cost of mining and transporting Indonesian coal to Mundra is $25 per tonne. The coal is sold to Adani Power at $36 per tonne. “Any hike in price would only increase the royalty payments by around $1 or $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
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